Angola: Upright Piano Market 2024

Upright Piano Market Size in Angola

In 2022, the Angolan upright piano market decreased by -30.5% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption continues to indicate a perceptible descent. Over the period under review, the market attained the maximum level at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Upright Piano Exports

Exports from Angola

Upright piano exports from Angola was estimated at X units in 2022, approximately mirroring 2021. In general, exports continue to indicate a tangible expansion. The pace of growth was the most pronounced in 2019 with an increase of 60% against the previous year. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, upright piano exports contracted rapidly to $X in 2022. Over the period under review, exports enjoyed a pronounced expansion. The most prominent rate of growth was recorded in 2021 with an increase of 418% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Sao Tome and Principe (X units), South Africa (X units) and Portugal (X units) were the main destinations of upright piano exports from Angola, together comprising 75% of total exports. France lagged somewhat behind, comprising a further 25%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of 0.0%), while the other leaders experienced more modest paces of growth.

In value terms, France ($X) remains the key foreign market for acoustic new upright pianos exports from Angola, comprising 56% of total exports. The second position in the ranking was held by Portugal ($X), with a 17% share of total exports. It was followed by Sao Tome and Principe, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value to France stood at +36.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (-9.8% per year) and Sao Tome and Principe (0.0% per year).

Export Prices by Country

In 2022, the average upright piano export price amounted to $X per unit, reducing by -40.3% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average export price increased by 288%. The export price peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per unit), while the average price for exports to South Africa ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+36.4%), while the prices for the other major destinations experienced mixed trend patterns.

Upright Piano Imports

Imports into Angola

In 2022, after two years of growth, there was significant decline in overseas purchases of acoustic new upright pianos, when their volume decreased by -34.1% to X units. Over the period under review, imports recorded a pronounced descent. The pace of growth was the most pronounced in 2021 when imports increased by 63% against the previous year. Imports peaked at X units in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, upright piano imports contracted significantly to $X in 2022. In general, imports continue to indicate a slight curtailment. The most prominent rate of growth was recorded in 2020 when imports increased by 159%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Hong Kong SAR (X units) constituted the largest supplier of upright piano to Angola, with a 38% share of total imports. Moreover, upright piano imports from Hong Kong SAR exceeded the figures recorded by the second-largest supplier, Portugal (X units), threefold. The Netherlands (X units) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from Hong Kong SAR amounted to +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (+14.9% per year) and the Netherlands (+14.9% per year).

In value terms, the largest upright piano suppliers to Angola were Portugal ($X), Hong Kong SAR ($X) and the Netherlands ($X), together accounting for 75% of total imports.

The Netherlands, with a CAGR of +88.0%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average upright piano import price stood at $X per unit in 2022, picking up by 26% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 130%. Over the period under review, average import prices hit record highs at $X per unit in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Namibia ($X per unit), while the price for France ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+63.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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